BSOP206 Ch1_Self Test

BSOP206 Ch1_Self Test - index is 1.25. What is the...

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Self Test Before taking the self-test , refer to the learning objectives listed at the beginning of the chapter and the key terms listed at the end of the chapter. LO1.Forecasting time horizons include: (pp. 104-105) a) long range. b) medium range. c) short range. d) all of the above. LO2.Qualitative methods of forecasting include: a) sales force composite. b) jury of executive opinion. c) consumer market survey. d) exponential smoothing. e) all except (d). LO3.The difference between a moving-average model and an exponential smoothing model is that _________. exponential smoothing is a weighted moving-average model in which all prior values are weighted with a set of exponentially declining weights LO4.Three popular measures of forecast accuracy are: a) total error, average error, and mean error. b) average error, median error, and maximum error. c) median error, minimum error, and maximum absolute error. d) mean absolute deviation, mean squared error, and mean absolute percent error. (p. 113) LO5.Average demand for iPods in the Rome, Italy, Apple store is 800 units per month. The May monthly
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Unformatted text preview: index is 1.25. What is the seasonally adjusted sales forecast for May? a) 640 units b) 798.75 units c) 800 units d) 1,000 units (800*1.25) e) cannot be calculated with the information given LO6.The main difference between simple and multiple regression is _______. simple regression has only one independent variable Multiple regression allows us to build a model with several independent variables instead of just one variable. LO7.The tracking signal is the: a) standard error of the estimate. b) cumulative error. c) mean absolute deviation (MAD). d) ratio of the cumulative error to MAD. e) mean absolute percent error (MAPE). Answers: LO1. d; LO2. e; LO3. exponential smoothing is a weighted moving-average model in which all prior values are weighted with a set of exponentially declining weights; LO4. d; LO5. d ; LO6. simple regression has only one independent variable ; LO7. d....
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This note was uploaded on 03/24/2012 for the course BUSN 206 taught by Professor Johnson during the Spring '11 term at DeVry Chicago.

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BSOP206 Ch1_Self Test - index is 1.25. What is the...

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